KUALA LUMPUR (Nov 10): The Securities Commission Malaysia (SC) wants to forfeit a property and shares in Bright Packaging Industry Bhd owned by businessman Ricky Wong Shee Kai, who is currently at large.
The forfeiture of Wong's property came up before judge Datuk Azhar Abdul Hamid in the High Court here on Friday.
Azhar ordered the exchange of affidavits between the SC, Wong, and his holding company Havana Bayview Sdn Bhd, and for the parties to exhaust the exchange by Feb 5, after which the judge would fix a hearing date for the commission's forfeiture application on Feb 19.
The SC was represented by deputy public prosecutors Mohd Hafiz Mohd Yusoff and Izuddin Mohamad, while Gurpreet Kaur appeared for Havana Bayview, and Dhanesh Subramaniam represented Wong.
Wong's property, which is located near the Kuala Lumpur city centre, is said to be worth more than RM20 million.
Besides this, it is understood that the SC has also filed forfeiture proceedings before judge Datuk Ahmad Shahrir Mohd Salleh for Wong’s control of Bright Packaging Industry shares, with the hearing also fixed for next year.
Wong and his family hold a 32.94% stake in Main Market-listed Bright Packaging Industry through Wong SK Holdings Sdn Bhd.
Wong, his mother Teh Sew Wan, and Wong SK allegedly contravened the Capital Markets and Services Act 2007 by using devices, schemes or artifices to defraud Bright Packaging Industry and/or engaging in acts, practices or courses of business which operated as a fraud of the company.
Wong, who was formerly the managing director of Asia Media Group Bhd, has left the country since 2021, and the SC has issued warrants of arrest against him.
The Federal Court on Oct 7 last year also quashed Wong’s bid to question the validity of two provisions for money laundering, as he wanted to challenge Sections 63 and 64 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act.
Both Sections dealt with individuals who have absconded and cannot be found, as well as the forfeiture of their properties.
This follows the government making an attempt to forfeit 5,792,000 shares in Bright Packaging Industry shares controlled by Wong.
The government claims that the shares were acquired from unlawful means.